Consumer Law, Warranties supposed contract

[chewtoypdx]

I am trying to determine if a contract really exists. I received a check to cover my mortgage payment that was going to be late, due to my mort broker not completely the loan on time. At the time of receiving the check, it was never mentioned it would be a loan. I immediately deposited the check and fedex'd a check to the mortgage company for payment. 3 weeks later I recieve a call from the broker and he is expecting repayment. He tells me that he wrote loan August payment on the check memo line and that constitutes a loan agreement. My fault for not reading it yes, but that seems kind of tricky to get someone to complete a loan process with you. On top of this, the broker missed deadlines which cause locks to be lost and we had to get a loan for a different rate/terms and fees. At no point did the broker offer a reduction in fees.

 

[Michael Wechsler]

Originally posted by chewtoypdx
I am trying to determine if a contract really exists. I received a check to cover my mortgage payment that was going to be late, due to my mort broker not completely the loan on time. At the time of receiving the check, it was never mentioned it would be a loan. I immediately deposited the check and fedex'd a check to the mortgage company for payment. 3 weeks later I recieve a call from the broker and he is expecting repayment. He tells me that he wrote loan August payment on the check memo line and that constitutes a loan agreement. My fault for not reading it yes, but that seems kind of tricky to get someone to complete a loan process with you. On top of this, the broker missed deadlines which cause locks to be lost and we had to get a loan for a different rate/terms and fees. At no point did the broker offer a reduction in fees.

This requires an explanation from you -- were you expecting the check to be a gift? Why would the broker pay for the entire payment? I would think that at most he might cover a late fee caused by his actions if that were the case.